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Required Information [The following information applies to the questions displayed below.] The Platter Valley factory of Bybee Industries manufactures fieid boots. The cost of each boot includes direct materials. direct labor, and manufacturing (factory) overhead. The firm traces all direct costs to products, and it assigns overhead cost to products based on direct labor hours. The company budgeted $10,045 variable factory overhead cost, $88,150 for fixed factory overhead cost and 2,050 direct labor hours (its practical capacity) to manufacture 4,100 pairs of boots in March. The factory used 3,800 direct labor hours in March to manufacture 3,900 pairs of boots and spent $16,900 on variable overhead during the month. The actual fixed overhead cost incurred for the month was $91,250. The Platter Valley factory of Bybee industries currently uses a four-variance analysis of the total factory overhead cost variance but is thinking of changing to a three-variance analysis. Required: 1. Compute the total overhead spending variance, the (variable overhead) efficiency variance, and the production volume variance for March and indicate whether each variance is favorable (F) or unfavorable (U). 2. Prepare the appropriate journal entries at the end of March to record each of the following: (a) the total overhead spending variance (b) the (variable overhead) efficiency variance, and (c) the production volume variance. Assume that all overhead costs are recorded in a single account called "Factory Overhead." Complete this question by entering your answers in the tabs below. Compute the total overhead spending variance, the (variable overhead) efficiency variance, and the production volume variance for March and indicate whether each variance is favorable (F) or unfavorable (U). Required information [The following information applles to the questions displayed below.] The Platter Valley factory of Bybee Industries manufactures field boots. The cost of each boot includes direct materlals. direct labor, and manufacturing (factory) overhead. The firm traces all direct costs to products, and it assigns overhead cost to products based on direct labor hours. The company budgeted $10,045 varlable factory overhead cost, $88,150 for fixed factory overhead cost and 2,050 direct labor hours (its practical capacity) to manufacture 4,100 palrs of boots in March. The factory used 3,800 direct labor hours in March to manufacture 3,900 palrs of boots and spent $16,900 on varlable overhead during the month. The actual fixed overhead cost incurred for the month was $91,250. The Platter Valley factory of Bybee Industrles currently uses a four-varlance analysis of the total factory overhead cost varlance but 15 thinking of changing to a three-varlance analysis. Required: 1. Compute the total overhead spending varlance, the (varlable overhead) efficlency varlance, and the production volume varlance for March and indicate whether each variance is favorable (F) or unfavorable (U). 2. Prepare the approprlate journal entrles at the end of March to record each of the following: (a) the total overhead spending varlance, (b) the (varlable overhead) efficlency variance, and (c) the production volume varlance. Assume that all overhead costs are recorded in a single account called "Factory Overhead." Complete this question by entering your answers in the tabs below. Prepare the appropriate journal entries at the end of March to record each of the following: (a) the total overhead spending variance, (b) the (variable overhead) efficiency variance, and (c) the production volume variance. Assume that all overhead costs are recorded in a single account called "Factory Overhead." (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the total overhead spending variance for the period. Show less a Nobe: Enter debits betare credits